Cheviot Value Management, LLC
Long book
$995.6M
Q1 2026
Positions
426
Top-10 weight
57%
concentration
Last quarter
+0.6%
SPY +14.8%
Turnover
4%
of book per quarter
Strategy in plain words
auto-generated from filingsCheviot Value Management, LLC is an institutional manager, running a $995.6M US long book across 426 positions.
The portfolio is concentrated: the top 10 names carry 57% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BERKSHIRE HATHAWAY INC-CL B, ISHARES 0-3 MONTH TREASURY B, AGNICO EAGLE MINES LTD, SS DOUBLELINE TR TACT ETF, ALPHABET INC-CL A.
Over the last 9 quarters its long book ran on average 0pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.5%
Q2 2024
+7.9%
Q3 2024
-1.7%
Q4 2024
+9.5%
Q1 2025
+2.7%
Q2 2025
+11.7%
Q3 2025
+4.5%
Q4 2025
+3.1%
Q1 2026
+0.6%
Sector allocation
Financials 23%
Materials 21%
Technology 18%
Healthcare 14%
Energy 10%
Communications 4%
Services media 4%
Consumer discretionary 4%
Long book by quarter
What does Cheviot Value own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 237.7K | $113.9M | 11.4% | +1.4% |
| AEM AGNICO EAGLE MINES LTD | Materials | 411.1K | $83.4M | 8.4% | -3.5% |
| GOOGL ALPHABET INC-CL A | Technology | 166.3K | $47.8M | 4.8% | -8.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 159.3K | $39.0M | 3.9% | -3.9% |
| NEM NEWMONT CORP | Materials | 222.9K | $24.1M | 2.4% | -6.6% |
| V VISA INC-CLASS A SHARES | Services media | 78.2K | $23.6M | 2.4% | +6.4% |
| META META PLATFORMS INC-CLASS A | Technology | 40.5K | $23.2M | 2.3% | 0.0% |
| MSFT MICROSOFT CORP | Technology | 57.7K | $21.4M | 2.1% | +1.1% |
| XOM EXXON MOBIL CORP | Energy | 125.8K | $21.3M | 2.1% | -0.9% |
| MRK MERCK & CO. INC. | Healthcare | 171.5K | $20.6M | 2.1% | +1.0% |
| CVX CHEVRON CORP | Energy | 82.9K | $17.2M | 1.7% | -0.3% |
| PFE PFIZER INC | Healthcare | 610.6K | $17.1M | 1.7% | +9.9% |
| CMCSA COMCAST CORP-CLASS A | Communications | 589.8K | $16.9M | 1.7% | +5.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 80.7K | $16.8M | 1.7% | +7.9% |
| COP CONOCOPHILLIPS | Energy | 120.5K | $15.9M | 1.6% | +1.0% |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 20 | $14.4M | 1.4% | Held |
| MKL MARKEL GROUP INC | Financials | 7.0K | $13.3M | 1.3% | +1.7% |
| B BARRICK MINING CORP | Materials | 319.0K | $13.0M | 1.3% | -3.5% |
| AGI ALAMOS GOLD INC-CLASS A | Materials | 210.4K | $9.3M | 0.9% | +0.2% |
| AAPL APPLE INC | Technology | 34.5K | $8.8M | 0.9% | -0.2% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 131.9K | $7.2M | 0.7% | -7.3% |
| OXY OCCIDENTAL PETROLEUM CORP | Energy | 99.6K | $6.5M | 0.6% | -3.3% |
| LBRDK LIBERTY BROADBAND-C | Communications | 126.7K | $6.4M | 0.6% | +63.0% |
| ABBV ABBVIE INC | Healthcare | 28.1K | $6.1M | 0.6% | -0.1% |
| PSX PHILLIPS 66 | Energy | 22.3K | $4.1M | 0.4% | +0.8% |
| CVS CVS HEALTH CORP | Healthcare | 42.4K | $3.0M | 0.3% | -1.3% |
| JPM JPMORGAN CHASE & CO | Financials | 8.2K | $2.4M | 0.2% | Held |
| NVDA NVIDIA CORP | Technology | 13.7K | $2.4M | 0.2% | +0.9% |
| AMAT APPLIED MATERIALS INC | Technology | 5.2K | $1.8M | 0.2% | Held |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 1.7K | $1.7M | 0.2% | Held |
| VZ VERIZON COMMUNICATIONS INC | Communications | 33.3K | $1.7M | 0.2% | -13.2% |
| PM PHILIP MORRIS INTERNATIONAL | Consumer staples | 9.6K | $1.6M | 0.2% | -1.2% |
| ABT ABBOTT LABORATORIES | Healthcare | 13.6K | $1.4M | 0.1% | Held |
| GOOG ALPHABET INC-CL C | Technology | 4.8K | $1.4M | 0.1% | -0.7% |
| AMGN AMGEN INC | Healthcare | 3.8K | $1.3M | 0.1% | Held |
| WDC WESTERN DIGITAL CORP | Technology | 4.3K | $1.2M | 0.1% | -1.1% |
| SNDK SANDISK CORP | Technology | 1.8K | $1.1M | 0.1% | -13.0% |
| DVN DEVON ENERGY CORP | Energy | 21.9K | $1.1M | 0.1% | -13.8% |
| MICC MAGNUM ICE CREAM CO NV/THE | Consumer staples | 71.3K | $1.1M | 0.1% | -3.9% |
| MCD MCDONALD'S CORP | Consumer discretionary | 3.3K | $1.0M | 0.1% | Held |
| CAH CARDINAL HEALTH INC | Consumer discretionary | 4.1K | $866K | 0.1% | Held |
| GLW CORNING INC | Industrials | 6.3K | $852K | 0.1% | 0.0% |
| GLIBK LIBERTY CAPITAL CORP-CL C | Communications | 22.7K | $846K | 0.1% | -1.1% |
| WFC WELLS FARGO & CO | Financials | 9.5K | $756K | 0.1% | Held |
| MS MORGAN STANLEY | Financials | 4.5K | $749K | 0.1% | +5.2% |
| TSLA TESLA INC | Industrials | 2.0K | $745K | 0.1% | Held |
| BAC BANK OF AMERICA CORP | Financials | 14.1K | $686K | 0.1% | Held |
| MMM 3M CO | Healthcare | 4.5K | $655K | 0.1% | Held |
| CDNS CADENCE DESIGN SYS INC | Technology | 2.3K | $635K | 0.1% | Held |
| VSNT VERSANT MEDIA GROUP INC | Communications | 17.1K | $634K | 0.1% | -3.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 426 | $995.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 3, 2026 | 416 | $1.02B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 31, 2025 | 444 | $940.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 433 | $872.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 9, 2025 | 455 | $813.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 70 | $523.0M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 67 | $530.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 69 | $512.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 62 | $456.2M | canonical | SEC ↗ |
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